Governor of National Bank on base rate reduction
Will the base rate be reduced in Kazakhstan? Governor of the National Bank of the country Galymzhan Pirmatov answered to this question, stressing that they do not see the opportunities yet.
“National Bank is taking all the necessary measures to reduce the gap between projected inflation rate and medium-term targets. This is the essence of inflation targeting. So far, we do not see opportunities for the rate cuts. The rate will be reduced if inflation falls in line with the target range at the end of 2024,” the governor of the financial institution said in an interview to the national media outlet.
The National Bank kept the base rate at 14 percent in the beginning of June.